Precision Petroleum Corporation
OTC Bulletin Board : PPTO

Precision Petroleum Corporation

February 14, 2011 09:01 ET

Precision Petroleum Corporation: Quinlan Rework Program Estimated to Increase Monthly Revenue by $10,000.00 Per Month

OKLAHOMA CITY, OKLAHOMA--(Marketwire - Feb. 14, 2011) - PRECISION PETROLEUM CORPORATION (Nevada Company), (OTCBB:PPTO) -

Richard Porterfield, President and Petroleum Geologist stated; "that a major re-work program on 3 Quinlan wells could reasonably increase revenue by $10,000.00 per month." 

Porterfield comments that the company is on target to re-equip several of its' leases with advanced production techniques in order to maximize reservoir recoveries, reduced lifting costs, and resulting in increased cash flows. The immediate project is the Quinlan fields consisting of 3 wells located within the Shawnee field in Pottawatomie County.

Precision has significant working interests in Quinlan well numbers 1, 2 and 3. The project contemplates surface equipment upgrades, remedial downhole and reservoir stimulation, including the installation of new production strings and bottom hole pumps.

Quinlan #1 produces from the Hunton Limestone; Quinlan #2 and #3 will be completed in the Viola Limestone. The geology confirms a prolific history in this area. Porterfield comments that the industry has made significant advancements in reservoir recovery strategies and production engineering solutions. Rework is estimated to start within the next 30 days. Precision will continue to advise on the progress of the Quinlan re-works and initiatives and on other leases.

ABOUT PRECISION

Precision Petroleum Corporation is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America. Precision's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent a low risk opportunity. As well, Precision aims to define larger projects that can be developed with Joint Venture Partners. More information about the company is available at; www.precisionpetroleumcorp.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company does not intend to, and undertakes no duty to, update any such forward looking statements to reflect the impact of circumstances or events that arise after the date such forward looking statements were made.

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